This is an excellent MUST READ article from Oxford economist, Simon Wren-Lewis. Check it out!

mainly macro: Was the UK government’s use of North Sea Oil a scandal?.

Personally, I’m of the opinion that the UK squandered revenues from offshore oil and gas – certainly there is no sovereign wealth fund like Norway.

Any thoughts?

A North Sea Oil rig. North Sea oil production is centred on the waters to the NE of the Scottish mainland. (Photo credit: Wikipedia)

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